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# Stagwell CEO Mark Penn Cashes Out 1 Million Stock Appreciation Rights Worth $8.3 Million
- URL: https://www.bullished.co/stagwell-ceo-mark-penn-cashes-out-1-million-stock-appreciation-rights-worth-8-3-million-5d1eda73/
- Published: 2026-11-02T23:56:16.000Z
- Updated: 2026-11-02T23:56:16.000Z
- Description: Penn's rights were set to expire December 14, 2026, and he still holds 25,034,990 Stagwell shares after the cash settlement.
- Author: Matteo Parrino
- Tags: Insider Trades, STGW, Industry: Communication Services

Mark Jeffery Penn, Stagwell's CEO, cashed out [1 million rights](https://www.sec.gov/Archives/edgar/data/0001771735/000110465926121544/xslF345X06/tm2628623-1%5F4seq1.xml?ref=bullished.co) on October 29 and November 1, split into two 500,000 lots, a Monday filing shows. The rights, which pay out the gain in a stock's price, were due to expire on December 14, 2026.

## Two lots at $8.27

Both lots carried an exercise price of $8.27, for a total of $8.3 million. The filing, a [Form 4](https://www.bullished.co/learn/insider-selling-meaning/) (the report insiders file after trading), records the company paying out the gain: the shares were disposed of to the issuer at $9.95 for the October 29 lot and $10.47 for the November 1 lot.

The rights vested in equal installments on December 14 of 2022, 2023 and 2024.

## A 25 million-share stake remains

Penn holds 25,034,990 [Stagwell](https://www.bullished.co/tag/stgw/) shares after the exercise, worth about $269.6 million at Monday's close. Of those, 23,034,990 are held directly and 2,000,000 indirectly through The Stagwell Group LLC, which the filing says he controls.

Stagwell shares closed Monday at $10.77\. As of Friday's close the stock was up 114% this year and within 5% of its 52-week high of $10.61\. The shares rose 124.2% over the 12 months through October 30.

## The company behind the stock

Stagwell is a marketing and communications network selling creative, research, digital, media, public relations and advocacy services, plus software and data tools for in-house marketers. As of December 31, 2025, it served more than 4,500 clients and employed about 10,951 full-time staff.

Any further Form 4 from Penn, who still holds 25,034,990 shares, will show whether he exercises or sells more.

Learn

- [Code M: an option or derivative exercise →](https://www.bullished.co/learn/form-4-transaction-codes-explained/#code-m-an-option-or-derivative-exercise)  
From Form 4 Transaction Codes Explained: What P, S, M, F, G, J, D And A Mean
- [How To Read A Form 4 SEC Filing, Box By Box →](https://www.bullished.co/learn/how-to-read-form-4-sec-filing/)  
Learn how to read a Form 4 SEC filing: who filed, Table I and II, transaction codes, price, shares owned after, footnotes, and real examples of each case.

### Sources

- [Form 4 — Mark Jeffery Penn (STGW)](https://www.sec.gov/Archives/edgar/data/0001771735/000110465926121544/xslF345X06/tm2628623-1%5F4seq1.xml?ref=bullished.co) — SEC EDGAR

### More on Stagwell

- [Stagwell Names Director Beth Kaplan To Its Compensation Committee](https://www.bullished.co/stagwell-names-director-beth-kaplan-to-its-compensation-committee-f22947c0/)
- [Stagwell's Adjusted EBITDA Climbs 25% To $144.8 Million, But Operating Income Falls To $48.1 Million](https://www.bullished.co/stagwells-adjusted-ebitda-climbs-25-to-144-8-million-but-operating-income-falls-to-48-1-600b33d5/)
- [Stagwell Expects About 10% Of A $1.5 Billion Central Command Subcontract In Fees](https://www.bullished.co/stagwell-expects-about-10-of-a-1-5-billion-central-command-subcontract-in-fees-a0fcb40a/)

[All Stagwell (STGW) coverage →](https://www.bullished.co/tag/stgw/)